EURUSD is seemingly in an attractive spot for continuation players. There's a bullish harmonic pattern noticeable on 240 chart. It went through 61.80% pullback on its bullish swing after hitting the 150 day EMA and is now above 38.20% point of the pullback leg. Increased odds that this pair will try to climb towards the 61.80% point of the pullback leg, perhaps test the gap area around 1.1725. Short risk on EURUSD is the preferred choice at this point. Wider stops beneath the recent low of 1.1480, tighter stops beneath 1.1530 and 1R-2R targets ahead.
Comment
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Limit buy order 1.1545 stop 1.1510 and 1R-2R targets
Trade active
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Limit order filled
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5M chart Potential nested wedge bottom. Closing below the low of the third bearish push is a bad sign for bulls.